Debate on the Existence of Plunge Protection Team

November 19, 2008 7:00am by

From an anonymous trader/investor:

CNBC Video Clip Denying Existence of Plunge Protection Team (aka President’s Working Group on Financial Markets:

The link below contains the CNBC video clip and GATA discussion wherein the CNBC crew are AMAZED to learn about market intervention by the PPT of the S&P futures or that such a group and its activities even exists. MSM at its best in trying to suppress the truth.

CNBC VIDEO PPT

Well, well, well … it’s early morning and a guest on CNBC’s Squawk Box blurted out in vociferous fashion about how The Working Group on Financial Markets, or the Plunge Protection Team, has been active in the S&P futures markets … most notably on October 10 and 24. He mentioned that late market action in which the S&P rose 100 points from low to high for no apparent reason, and that the US Government was in no mood to let the markets close for the weekend(s) in a near state of panic.

The guest, Scott Nations, President of Fortress Trading, refused to back down. Bet you won’t be seeing him back anytime soon.

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UPDATE DECEMBER 10, 2008

BR adds: It turns out that Scott Nations has been a regular on Squawk for the past few weeks. So much for that theory.

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